Wolverine Asset Management LLC Sells 3,674 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Wolverine Asset Management LLC decreased its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,738 shares of the real estate investment trust’s stock after selling 3,674 shares during the period. Wolverine Asset Management LLC’s holdings in Brixmor Property Group were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board bought a new stake in Brixmor Property Group during the first quarter worth $124,978,000. PGGM Investments raised its holdings in shares of Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after buying an additional 2,353,582 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Brixmor Property Group during the 2nd quarter worth $49,546,000. Millennium Management LLC boosted its stake in Brixmor Property Group by 35.5% in the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after buying an additional 1,501,282 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Brixmor Property Group in the first quarter valued at about $16,964,000. 98.43% of the stock is owned by institutional investors.

Brixmor Property Group Trading Up 0.3 %

Shares of BRX stock opened at $28.83 on Thursday. Brixmor Property Group Inc. has a 1-year low of $20.80 and a 1-year high of $29.19. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The stock has a market cap of $8.71 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 3.92 and a beta of 1.57. The stock has a 50-day moving average of $27.73 and a 200-day moving average of $25.13.

Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The firm had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BRX shares. Scotiabank raised their price target on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Wells Fargo & Company upped their price target on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Compass Point raised their price objective on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp upped their target price on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Truist Financial lifted their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

About Brixmor Property Group

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.